Cleveland BioLabs, Inc. (NasdaqCM:CBLI) has filed a Follow-on Equity Offering in the amount of $3.175006 million on June 1, 2020. The gross proceeds to the Company from the transactions are approximately $3.175 million, before deducting the placement agent's fees and other estimated offering expenses, and excluding the proceeds, if any, from the cash exercise of the Warrants. The Company intends to use the net proceeds from this offering for general corporate purposes, including sales and marketing expenses associated with our product candidates, funding of our development programs, payment of milestones pursuant to our license agreements, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital.